How Far Could $700 Billion Go to Produce An Alternative Energy Infrastructures?
We are about to let our Government bail out Gigantic Corporations for mismanagement of their assets. I heard one of the Senators just the other day talking about how Freddie Mac paid their Lobbyist over 100 Billion Dollar to get this Bail Out passed. Ask yourself where did that $100 Billion go? Now if Freddie Mac has that much money to shmooze Washington, why don’t they use it to fix their own internal problems? Then I heard that the CEO of Freddie Mac was going to get $3 Million in the Bail out package, that’s our Money he was going to get for screwing up. I guess his Country Club dues must have gotten increased so he needed the raise. Does anyone in here see that PRIORITIES are what is screwed up in this Country? We need to be Writing, Faxing, Emailing and Calling all our Political Reps and letting them know WE are done with the Nest Feathering for the Elite of this Country. We also need to make them aware that there is a Man Named T. Boone Pickens that has a plan to start putting Money back into our pockets instead of taking it out. They need to start listening instead of talking.
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Permalink Reply by Dale Nelson on -
Agree totally. Small government free market systems can only work with huge government subsidies. This 'no banker left behind' project lets us know what conservativism is all about. Capitalism is suppossed to be a system of profits and losses. But the minute a capitalist faces a loose, he runs screaming for government help. Reaganism is an absolute, complete and total fraud.
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Permalink Reply by Kenneth Koch on -
Ah guys?
We are talking about a financial crisis here. BTW: The last time the goverment did a big bailout duriing the S+L crisis it ended up breaking even. Hopefully the FED will not go into the red on this one.
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Permalink Reply by Bruce Becking on -
Kenneth,
Why are we in the crisis? Mismanagment, Loaning more than what homes are worth, Companies selling insurance for lost jobs and securities? Whats happening here in America? Big Business is going overseas to make their profit margins bigger and at the same time putting Americans out of work. Hell, The Air Force is going overseas to have their tankers built. Has anyone thought about what will happen if we go to war with the Country thats building our tankers? Now throw into the mix Americans wanting everything for pennies on the dollar so what does that force Big Business to do to make their big profit margins? Go to Countries where people get paid pennies/ hour to make the Junk WE are buying.
Now lets talk about the global market. Its time we all understand that we cant keep thinking we can stay in our $300K to 500K homes that are mortgaged to the hilt when our jobs are being sent overseas forcing people here in America to take less or fear loosing their jobs. We Americans better start drinking the coffee instead of sniffing it and wake up to what is happening right under our noses. Either we all start investing in AMERICA or we are going down the tubes. T. Boone Pickens has been trying to tell AMERICA and its politicians this exact thing with little effect. We all need to be telling our Politicians to start listening instead of filling the air with B.S.
Lets take this one more step, Would you expect the Government to bail you out if your Business failed due to Mismanagment or wrongfull doing on your own part?
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Permalink Reply by Kenneth Koch on
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How does anger about many issues resolve the credit crisis?
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Permalink Reply by Bruce Becking on
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I direct my anger at the people who need to hear it and that is the Political Reps that are about to sell you and I down the river without thinking about it. Think about it.
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Permalink Reply by Colt Lewis on -
If all 7 million gallon ethanol plants cost 34 million like the predicted cost of the plant in liberty county Florida then we could have 160 Billion Gallons of ethanol enough to offset 114 billion gallons of gasoline. 80% of our current gas supply. That will take roughly 3.2 Billion Tons of Biomass; So maybe energy diversification is a good idea. Maybe we should spend some of the 700 Billion on wind and solar energy as well. Bill Clinton says if we would have done this instead of investing in houses that were increasing in value artificially we would not be in this problem.
So to answer your question, we could do quite a bit.
Don't you remember when the goal after college was to get a job and buy a house. HaHa.. I think renting doesn't sound so bad, if you are not sure where you will want to live in 5 years. I know of a lady that moved to Washington for a government job, she was close to retirement, but now she can't retire because she can't sell her house.
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Permalink Reply by Bruce Becking on
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Colt,
My post is a question to get people thinking past what the Politicians are telling us. Its time WE start making a difference by telling this Politician how much we are against them using our money to bail out Wall Street. I could see if they gave us the chance to Vote on this matter but to just move without approval is nothing less than robbery. Have you noticed how fast they have moved towards making this Country Energy Independent? They haven’t and that’s the point. Now they are acting like they are Hero's because they have taken away the Golden Parachutes for the CEO's of the Offending Companies when that shouldn't have entered the issue from the get go. Give CEO's Money for Screwing up???? Let me rephrase that, Give CEO's Tax Payers money for Screwing up, and would they have said anything if no one would have caught this? This goes beyond Ignorance.
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Permalink Reply by Christopher T. Stock on -
I think a lead bullet is more fitting then a golden parachute for treason.
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Permalink Reply by Colt Lewis on
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I found this on kingfishconnection.com. Fisherman don't talk about politics much, and when they do it doesn't make sense. But this was the best answer I have found to our problem.
I'm against the $85,000,000,000.00 bailout of AIG. Instead, I'm in favor of giving $85,000,000,000 to America as a "We Deserve It Dividend."
To make the math simple, let's assume there are 200,000,000 bonafide U.S. Citizens 18+. Our population is about 301,000,000 +/- counting every man, woman and child.
So 200,000,000 might be a fair stab at adults 18 and up..
So divide 200 million adults 18+ into $85 billon that equals $425,000.00.
My plan is to give $425,000 to every person 18+ as a "We Deserve It Dividend."
Of course, it would NOT be tax free. So let's assume a tax rate of 30%. Every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam.
But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife has $595,000.00. What would you do with $297,500.00 to $595,000.00 in your family?
Pay off your mortgage - housing crisis solved.
Repay college loans - what a great boost to new grads
Put away money for college - it'll be there
Save in a bank - create money to loan to entrepreneurs.
Buy a new car - create jobs
Invest in the market - capital drives growth
Pay for your parent's medical insurance - health care improves
Enable Deadbeat Dads to come clean - or else
Remember this is for every adult U S Citizen 18+ including the folks
who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces.
If we're going to re-distribute wealth let's really do it...instead of
trickling out a puny $1000.00 ( "vote buy" ) economic incentive that is being proposed by one of our candidates for President.
If we're going to do an $85 billion bailout, let's bail out every adult U S
Citizen 18+!
As for AIG - liquidate it.
Sell off its parts. Let American General go back to being American General.
Sell off the real estate. Let the private sector bargain hunters cut it up and clean it up.
Here's my rationale. We deserve it and AIG doesn't.
Sure it's a crazy idea that can "never work."
But can you imagine the Coast-To-Coast Block Party!
How do you spell Economic Boom?
I trust my fellow adult Americans to know how to use the $85 Billion
We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC.
And remember, The plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.
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Permalink Reply by Bruce Becking on
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Colt,
You got my vote. I would vote for you if you were running for President.
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Permalink Reply by NKYCarbon on -
This is the 2nd time I've seen those numbers today.
$85,000,000,000
over
200,000,000 people
is
$425
Don't worry the $425,000 will go out but to 200,000 people. They just won't be us.
That is a classic fish story though ;)
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Permalink Reply by Colt Lewis on
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I know, sorry about that, I actually found the mistake before I read this, I just came to correct myself.
My apologies, thats called not checking your work.
I am just glad I properly cited my work.
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